Ann: Chairman's Letter re Scheme of Arrangeme, page-12

re: Ann: Chairman's Letter re Scheme of A... Hey all

I still believe that ORG will take this one out and that is the outcome I am in for now, not much down-side.

But, apart from me, I think there are about 7 people praying for ORG to come in, ie, the ESG Board. This is the only outcome that may save skins. I am smelling a class action here, again, I will stay to the end (or near end) to maximise outcome either through another bidder or to maximise outcome thru class action if key statements made in the past were made without sufficient basis.

Time will tell, I won't get too far ahead.

There are 3 positions made clear in the Federal MP's play book:

1. If you get caught sleeping at the wheel - blame a state government!

2. Nothing is too good for the Aust'n Taxpayer - give them nothing, it is still too good for them.

3. We will maximise the return on taxpayer funds (read 'WE will maximise the return on shareholder's funds, 45c for our shares turned into 90c is pretty good, oh, you thought we meant YOU would get the return, sorry')

Bit of tongue in cheek here but I was expecting a different return from our investment in an Ex MP.

It is looking comical at the moment.

Whilst I think ORG will take it out, nothing (except bad field performance) excuses this strategy. AND, if the strategy is vindicated by bad field performance - there are a number of announcements to the market that will be ringing loudly in a few ears and pockets for a while.

Enjoy what is left of the ride - this is one to tell the grand kids about :) either way :(